Bourns Nears 90% Threshold as French Approval for Rakon Takeover Looms

Rakon ( (NZ:RAK) ) just unveiled an announcement.

Bourns, Inc. has updated Rakon investors on its NZ$1.55-per-share cash takeover bid, confirming that all regulatory approvals except French sign-off have been secured and that acceptances now cover about 85% of Rakon’s shares and over 97% of share rights. The French Ministry for the Economy has agreed a commitments package with Bourns, and formal authorisation is considered highly likely around 2 May, leaving the offer’s scheduled 7 May close and its 90% minimum acceptance condition as the key remaining hurdles.

The bidder is urging remaining shareholders to accept promptly, warning that if the offer lapses Rakon will stay listed and the share price is likely to fall back toward pre-offer levels, leaving the company exposed to ongoing execution, regulatory, and capital-raising risks in a tougher economic environment. Conversely, if the bid becomes unconditional and Bourns passes 90% ownership, it can move to compulsory acquisition, with accepting investors receiving payment in May and any holdouts facing a lengthier settlement process under the Takeovers Code.

More about Rakon

Rakon Limited is a New Zealand-based technology company listed on the NZX, specialising in frequency control and timing solutions used in telecommunications, positioning, and other high-reliability applications. Its products and expertise position it as a strategic asset in global electronics supply chains, attracting interest from international acquirers such as U.S.-based Bourns, Inc.

Average Trading Volume: 112,020

Current Market Cap: N$349.3M

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